UGE Selected to Build 374kW Solar Project for Oroquieta Bayfront Park & Arena
Cebu, Philippines--(Newsfile Corp. - May 9, 2019) - UGE International Ltd. (TSXV: UGE) (OTCQB: UGEIF) (the "Company" or "UGE"), a leader in solar energy solutions for the commercial and industrial sector, is pleased to announce that it has signed a contract to design and build a 374kW solar system on the rooftop of a new stadium being built in Oroquieta City, Mindanao, Philippines.
Oroquieta Bayfront Park and Arena is a new multi-use development on the island of Mindanao, Philippines, featuring a sports stadium, park, shopping mall, and office buildings. It was developed by the city of Oroquieta and constructed by Montano Construction and Development Corp. to be a state-of-the-art facility, contributing to the economic growth and community development of Oroquieta. Mayor Jason Almonte stated: "It is my dream to make Oroquieta a new economic destination through the city's infrastructure program, letting people experience the good life both socially and economically."
"As a lifelong advocate for sports, healthy living, and protecting the environment, I'm excited to play a part in Oroquieta's sustainable development," said UGE Philippine's board member and retired basketball legend, Ramon Fernandez. "Powering the facility with clean, renewable energy ensures that the development of the Philippines' athletic programs and local economies support the clean air and water we all need to thrive."
UGE was chosen to engineer and build the project based on its extensive experience in the commercial solar sector. The project is expected to generate approximately US$400,000 in revenue to UGE, with gross margins at or above the Company's 23% target. The project will be constructed throughout the balance of 2019.
UGE delivers immediate savings to businesses through the low cost of solar energy. We help commercial and industrial clients become more competitive by providing low cost distributed renewable energy solutions at no upfront cost and maximum long-term benefit. With over 375 MW of global experience, we work daily to power a more sustainable world. Visit us at www.ugei.com.
For more information, contact:
+1 917 720 5685
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